🚨🚧This Week in Crypto Games: 'Hamster Kombat' Airdrop and Expansion, $47 Million Gaming Scam !!!
The crypto gaming space is busier than ever lately, what with prominent games starting to release, token airdrops piling up, and a seemingly constant array of other things happening at all times. It’s a lot t o take in! Luckily, Decrypt’s GG is all over it. And if you need a quick way to get caught up on the latest moves around crypto video games, we’re happy to present This Week in Crypto Games. Our weekend roundup serves up the biggest news from the past week, along with a few other tidbits you might have missed. We also showcase a few of our original stories from the week. Biggest news Hamster Kombat airdrop: Ultra-viral Telegram mini-app Hamster Kombat launched its HMSTR token on The Open Network (TON) on Thursday. The tap-to-earn game attracted over 300 million users, with 131 million of those being eligible for the airdrop—though an additional 2.3 million were cut for cheating. But not everyone was happy with the "free money." Several players described their HMSTR reward as “dust” as its token price fell to as low as $0.006—pre-market trading predicted its price to be $0.095 the day before the airdrop. But traders still were all over the drop, with more than $1.2 billion worth trading hands in the first 24 hours. And TON held up, despite concerns. Ahead of the airdrop, Hamster Kombat revealed its roadmap for the upcoming year. The anonymous team plans to release NFTs, create and launch new games, and most notably start to distance itself from Telegram exclusivity. Its first step in doing this will be creating a progressive web app (PWA) for iOS, Android, and desktop—PWAs are websites that behave like regular apps. Months later, the team will look to move away from the PWA by directly integrating Hamster Kombat into desktop games. $47M gaming scam: Binance assisted Indian law enforcement in arresting four individuals suspected of defrauding victims of $47.6 million and then laundering the funds. This was linked to the Fiewin online betting and gaming app, which promised users easy earnings but ultimately trapped their funds, not allowing users to withdraw their money. The investigation found that the app froze accounts once significant funds had been accumulated, then transferred them through various cryptocurrency wallets to make it more challenging to trace the transactions. However, Binance’s Financial Intelligence Unit (FIU) provided technical expertise to trace the movement of funds. $HMSTR #HAMSTR
China's former finance minister urges crypto study after US Bitcoin ETF shift Lou Jiwei stressed that China should assess the development of cryptocurrencies, especially as the US changes its policy on Bitcoin ETFs. In a speech at the 2024 Tsinghua Wudaokou Chief Economists Forum in Beijing, former Chinese finance minister Lou Jiwei urged China to pay close attention to advances in cryptocurrencies. According to Sina Finance's report of the speech, the former minister highlighted the potential risks that crypto poses to financial stability, including its volatility and role in money laundering.
Scammers Market Fake Apps as Solution to Web3 Problems
Fake Wallet App Downloaded 10,000 Times on Google Play, Steals $70,000 Worth of Crypto crypto walletTipuanDompet The malicious app, called WalletConnect, mimics the reputable WalletConnect protocol. A fake cryptocurrency wallet app on Google Play has reportedly stolen $70,000 from users in a sophisticated scam described as the world's first to target mobile users exclusively. The malicious app, dubbed WalletConnect, mimics the popular WalletConnect protocol but is actually a sophisticated scheme to drain crypto wallets.
Gary Gensler: 'Crypto Needs to Build Trust,' Emphasizes Bitcoin's Insecure Status Bitcoin General In a recent interview, SEC Chairman Gary Gensler emphasized the need for investor trust and protection in the crypto industry, stating the industry will not survive without both.
Binance Founder CZ Freed After 118 Days: Will His Release Stabilize BNB?$BNB Binance
Former Binance CEO Changpeng “CZ” Zhao was released from prison on Friday after serving 118 days of his four-month sentence.
His early release, which was tied to federal guidelines that allow for weekend release, follows a guilty plea in April to violating U.S. anti-money laundering laws while serving as Binance CEO.
The court ordered CZ to pay a personal fine of $50 million, while Binance received a separate fine of $4.3 billion.
Despite his legal troubles and time behind bars, Fortune reports that Zhao still has a massive personal fortune, estimated at more than $60 billion. His release has sparked speculation in the cryptocurrency community about its potential impact on the market, particularly the future of Binance Coin (BNB).